How do CRA's update?

[W261w261]

Do they update every single (active) file every night? Even files with no reports would still need to be updated because of aging I assume. Sounds like a monstrous task. 

[yodi2007]

Mine have updated during the statement period. So once a month. 

[FireMedic1]

They update whenever a creditor sends them info. The new info is calculated and a score given. So if you have 10 accounts. It updates 10 times in a given month. So its always revolving. They dont have their own schedule. Its up to the creditors. Internally outside of creditors with ages that make a file good or bad. That could mean every minute. Its never stops.

[dragontears]

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@W261w261 wrote:

Do they update every single (active) file every night? Even files with no reports would still need to be updated because of aging I assume. Sounds like a monstrous task. 

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Ummm not quite  

Updates are done due to changes 

"Aging" is not a change to your reports, the date every one of your accounts don't change so there is nothing to update. Score models use aging in their algorithm but the CRA don't 

You are confusing things done by the CRA (collect and store information) with things done by a lender/CMS (calculation of scores).

[W261w261]

So when I log onto Exp and look at my score there, who has calculated it? I thought it is EXP. Not sure I understand "calculated by the lender or the CMS." 

[SouthJamaica]

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@W261w261 wrote:

Do they update every single (active) file every night? Even files with no reports would still need to be updated because of aging I assume. Sounds like a monstrous task. 

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Yes they update the data constantly. It's not a task at all, it's entirely automated.

[dragontears]

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@W261w261 wrote:

So when I log onto Exp and look at my score there, who has calculated it? I thought it is EXP. Not sure I understand "calculated by the lender or the CMS." 

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The CMS (credit monitoring service) in that case is Experian and only generates a score when you "refresh"; if you didn't log in for 3 weeks there is not going to be 3 weeks of daily scores. Scores are generated at the moment a lender or CMS pulls the data/report, they are not continually generated. 

[sznthescore]

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@W261w261 wrote:

Do they update every single (active) file every night? Even files with no reports would still need to be updated because of aging I assume. Sounds like a monstrous task. 

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Creditors send over a batch file of all their credit accounts hence statement cut date, late payments etc. The aging may be done internally once a credit file is in place with a credit accout, collection account, or inquiry by the CRA.  For example you SD a credit, with no payment activity there's nothing to update beside age which would be done by CRA or maybe creditor send over that information too...  Creditors just send over payment information, etc over in that batch file monthly or however their subsciber access grants them. JMHO